Let's look at Bitcoin on a log-scale plus a logarithmic regression channel.
The most elegant solution to make sense of what has been happening for a decade now, inspired by Youtuber Ben Cowen.
We can see that all market tops & bottoms have so far touches the support and resistance curves.
However, during the current cycle we haven't even come close to the resistance.
A possible way to continue with the familiar pattern would be a double peak cycle similar to 2013.
In this scenario we'd see a consolidation period of about another 6 to 12 months before we go on to new all time highs!
In this stretched out scenario top number 4 could come in at between $300k and $400k, followed by a long consolidation.
Furthermore, if you believe in Bitcoin it can be advantageous to invest in altcoins like Cardano too, since they typically see overproportionate gains compared to BTC.
The most elegant solution to make sense of what has been happening for a decade now, inspired by Youtuber Ben Cowen.
We can see that all market tops & bottoms have so far touches the support and resistance curves.
However, during the current cycle we haven't even come close to the resistance.
A possible way to continue with the familiar pattern would be a double peak cycle similar to 2013.
In this scenario we'd see a consolidation period of about another 6 to 12 months before we go on to new all time highs!
In this stretched out scenario top number 4 could come in at between $300k and $400k, followed by a long consolidation.
Furthermore, if you believe in Bitcoin it can be advantageous to invest in altcoins like Cardano too, since they typically see overproportionate gains compared to BTC.
